A system that gathers and compiles the different estimates made by stock analysts on the future earnings for the majority of U.S. publicly traded companies. |||The IBES is a central location whereby investors are able to research the different analyst estimates for any given stock without necessarily searching for each individual analyst.
The risk to which a pension fund or life insurance company could be exposed as a result of higher-than-expected payout ratios. Longevity risk exists due to the increasing life expectancy trends among policy holders and pensioners, and can result in payout levels that are higher than what a company or fund originally accounts for. The types of plans exposed to the greatest levels of longevity risk are defined-benefit pension plans and annuities, which guarantee lifetime benefits for policy or plan holders. Average life expectancy figures are on the rise, but even a very small change in life expectancies can create severe solvency issues for pension plans and insurance companies. Precise measurements of longevity risk are still unattainable because the limit of medicine and its impact on life expectancies has not been quantified.
Exchange-traded funds that invest primarily in yen-backed assets such as short-term debt instruments and bonds, or hold the currency in simple interest-bearing accounts that pay the current money market yields in Japan. Some Yen ETFs will match (with a dividend yield) the current income earned on the yen assets, or may use that income to pay the expenses of managing the ETF. Watch: Understanding ETF |||Unlike basic money market funds, Yen ETFs do not seek to maintain share price stability (as in $1 per share); performance is primarily driven by the performance of the Japanese yen compared to the the U.S. dollar. The Japanese yen is one of the most traded currencies in the world, along with the dollar and the euro. Japan's historically low interest rates make it a sought after currency for borrowing, but the borrowed funds are often used to invest in foreign securities and debt.
A mutual fund in which structure and operations are based on reducing the tax liability that its shareholders face. Reducing the tax liability of a fund is done in three main ways: 1. By purchasing tax-free (or low taxed) investments such as municipal bonds. 2. Keeping the fund's turnover low, especially if the fund invests in stock. Stocks held for more than one year are taxed at a lower long-term capital gains rate than short-term transactions. 3. Avoiding or limiting income-generating assets, such as dividend-paying stocks, which create a tax liability at each dividend issuance. Because tax-efficient funds have a low tax liability, they are often good investments to make outside of a tax-deferred account. This is because there is a minimal amount of tax to be deferred and the space in an investor's tax-deferred account is better suited for higher taxed securities, such as dividend-paying stocks. To determine how much you will save in this type of fund compared to other funds, review the investment company's and/or mutual fund's tracking services for statistics regarding a fund's historic tax costs.
An options strategy involving the simultaneous purchase and sale of two options of the same type, having the same strike price, but different expiration dates. An example of this would be the purchase of a Dec 20 call and the sale of a June 20 call. This strategy is used to profit from a change in the price difference as the securities move closer to maturity. Also referred to as "calendar spread" or "time spread".
The Institute of Petroleum (IP), based in the United Kingdom, was a professional organization dedicated to those working in and studying the oil and gas industry. In 2003 the IP merged with the Institute of Energy to form the Energy Institute. The focus of the Energy Institute includes oil and gas, as well as nuclear and alternative forms of energy. |||The formation of the Energy Institute created the leading chartered membership body in the world for those people in the energy field. The Energy Institute is based in London, England, and as of 2010 has over 14,000 members in over 100 countries.
Shorthand for "the investing public"--in the same way that "Wall Street" is used to refer to investment professionals and brokers. If you are investing in the market, you are considered a part of the "Main Street" fraternity.
A slang term for the stock market in the United States. Yankee market is usually used buy non-U.S. residents and refers to the slang term for an American - a Yankee. |||The term Yankee market was used in business slang but has become widely accepted, much like the "bulldog market" refers to the U.K. market and "samurai market" refers to the market in Japan. The term Yankee (or Yank) itself is sometimes as a playful, sometimes derogatory, reference to U.S. citizens.
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